Moreover, in 2008, there was no fixed interest rate for the US dollar loan interest rate, and it was generally reported as LIBOR.
At that time, I borrowed money from state-owned banks, and the interest rate generally varied from three months LIBOR+200BPS to 600BPS. Namely: LIBOR+2% to 6% at that time.
You can find LIBOR in May 2008 on the Internet.
The deposit and loan interest rates in the United States are relatively low, and the current interest rate can be ignored. The interest spread of American banks is very low, because Americans basically don't save money, and banks don't make money by interest spread, which is about 1.5%.
Futures and spot are completely different. Spot is actually a tradable commodity. Futures are mainly not commodities, but standardized tradable contracts with some bulk products such as cotton, soybeans and oil and financial assets such as stocks and bonds as the targets. Therefore, the subject matter can be commodities (such as gold, crude oil and agricultural products) or financial instruments.
The delivery date of futures can be one week later, one month later, three months later or even one year later.
A contract or agreement to buy or sell futures is called a futures contract.
The place where futures are bought and sold is called the futures market.
Investors can invest or speculate in futures. Most people think that improper speculation in futures, such as short selling without goods, will lead to financial market turmoil, which is not correct. Going long and shorting at the same time is a healthy and normal trading market.
The loan interest rate refers to the ratio of interest amount to principal amount during the loan period. The interest rate in China is managed by the People's Bank of China, and the interest rate determined by the People's Bank of China is implemented after being approved by the State Council. The loan interest rate directly determines the profit distribution ratio between the borrowing enterprise and the bank, thus affecting the economic interests of both borrowers and lenders. The loan interest rate varies with the types and duration of loans, and it is also related to the scarcity of borrowing funds.